No. 41/10-BD - Caribbean Development Bank

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Oct 28, 2013 (3 years and 9 months ago)

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October 21
, 2010

No.
41
/
10
-

BD


NEWS RELEASE


CDB
BOARD APPROVES
US$25 MILLION
POLICY BASED LOAN


FOR
BARBADOS



The Caribbean Development Bank (CDB)

has approved a
Policy Based Loan (PBL)
for
Barbados

equivalent to
US$25 million
.

The approval came at a meeting of the Bank’s Board of
Directors on October 20 and 21, 2010.


This PBL is expected to provide Barbados with financing to ease current fiscal strain and
support efforts
by the government
to under
-
take medium
-
term reforms aimed

at achieving fiscal
and debt sustainability, while protecting hard won social gains.


This

PBL
is part of the
CDB
’s broader assistance strategy for Barbados which has

been
outlined
in a Country Strategy Paper
, approved at the same meeting and which focuse
s on the
attainment of outcomes leading to macro
-
economic stability.




END